The assessee has paid tax arrears as determined by the Designated Authority and intimated via Form 3. However, the assessee failed to file Form 4. Till date he has not filed the Form 4. Is there any way to file the form now. Or what will be the consequence of not filing the form
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In case of assessee, SMC bench has decided the issue of validity of reassessment relying upon the Division bench decision of another Tribunal . Case of the other family member is before the Division Bench having identical facts . Whether Decision of SMC bench by JM is binding on the division Bench . Pl guide .
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Will you please clarify for AY 2024-25 what is the Rate of Surcharge on income-tax on longterm capital gains of Rs. 130000 and what is the marginal relief ?
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Assessee is an individual and purchase flat with Builder in FY 2017-18 On the basis of search conducted at Builder on 2018-19 and loose papers found with him as well as his acceptance in settlement Commission about receipt of ON money, assessee has received Notice U/sec 153C . Noting on Loose papers seized is Surname of Assessee and some calculation of amount and interest . It does not have any date or signature or the place. Can assessee raise the objection on issuance of Notice U/sec 153 C on following grounds: 1. It is dumb paper 2. There could be…
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Dear Sir/Madam, we have a question on applicability of section 80IBA. in case if assessee maintains cost center wise books of accounts for all the projects in a single accounting software. will it meet the requirement of separate books of accounts as mentioned in section 80IBA?
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may I show the total no. of appeal filed by the department
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Hon'ble experts, The buyer deducted TDS at 1% u/s 194IA of the I.T. Act on Stamp value. The PAN number furnished by the seller was inoperative at the time of filing the from 26QB. Department deducted the TDS u/s 194IA at the rate of 20% due to non furnish the PAN card and issued the imitation order along with notice of demand. PAN card and Aadhar Card linked successfully. But, Pan and Aadhar card linked status is not updated in TDS Traces portal. Kindly help me out from this situation, With Regards, MOHAMED ALI Tax Practitioner.
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My Mother had a Flat (460 sq,ft) on Ownership basis since 1984. Building went into Redevelopment in the Year 2014. Builder paid Stamp Duty only on Construction Cost Rs 1760/ sq.ft.(as the Law Prevailed in 2014), whereas Fair Market Value & Stamp Duty Value was 8600/ sq.ft Now which Value I Have to Take for Capital Gain Tax Calculations I have sold the Flat in August 2023. from 2001 as base rate or stamp duty paid value or market value as on 2014 (agreement yr)
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whether AO made addition as business receipt in A Y 2017-18 on the ground that unsecured loan accepted during the year by account payee cheque is not reflected in the bank account of the assessee and disclosed in the Balance sheet and cit a has confirm the same as unsecured loan u/sec 68 on the ground that assessee though has submitted confirmation , PAN , bank statement , however the depositer has not filed the ROI , assessee has not explained the source of money of depositer . whether it is permissible under income tax act 1961 ? Whether addition…
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Assessee is trader of the steel and also registered under the GSt. Books of accounts are audited U/SEc. 44AB of the Act. In the assessment proceedings for A.Y. 2021-22, A.O. has asked the details of the purchases and on the basis of those details he has sent the Notices U/SEc. 133(6) to various parties. Two parties have not responded to the Notice U/SEc. 133(6) of the Act. AO has issued the SCN to assessee as to why the purchases of these parties should not be disallowed U/SEc. 37 of the Act since they have not responded to Notice U/SEc 133(6)…
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Vivad Se Vishwas